In This Article:
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Revenue: Increased to approximately $3,495,000 for the year ended December 31, 2024, compared to $2,899,000 in 2023.
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Cash and Equivalents: Approximately $9.3 million as of December 31, 2024, compared to $7.3 million as of December 31, 2023.
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License Revenue: $1 million from Proliant and approximately $890,000 from enzymes, including success fees in 2024.
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Cost of Research and Development Revenue: Decreased to approximately $1,195,000 in 2024 from $1,976,000 in 2023.
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R&D Expenses: Decreased to approximately $244,000 in 2024 from $3,297,000 in 2023.
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G&A Expenses: Increased to approximately $6,135,000 in 2024 from $5,817,000 in 2023.
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Net Loss: Approximately $5,809,000 or $0.20 per share for 2024, compared to a net loss of $6,795,000 or $0.24 per share in 2023.
Release Date: March 26, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Dyadic International Inc (NASDAQ:DYAI) reported strong revenue performance in 2024, including $1.9 million in milestone and license payments.
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The company is advancing its dual-track strategy by commercializing near-term non-pharmaceutical products while building a robust biopharmaceutical pipeline.
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Dyadic is strengthening its global impact through partnerships with academia, industry, government, and leading nonprofit organizations like the Gates Foundation and SEPI.
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The company is making significant progress in the life sciences segment with the development of DNA and RNA-related reagent enzymes, offering a scalable recurring revenue opportunity.
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Dyadic received a $4.5 million grant from SEPI and a $3 million grant from the Gates Foundation, supporting the development of vaccines and monoclonal antibodies.
Negative Points
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Despite increased revenue, Dyadic International Inc (NASDAQ:DYAI) reported a net loss of approximately $5.8 million for the year ended December 31, 2024.
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Research and development expenses decreased significantly, which may indicate a reduction in ongoing R&D activities.
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The commercialization of some products, such as recombinant human serum albumin, is still pending and expected in 2025, indicating potential delays.
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The company faces regulatory hurdles in the commercialization of certain products, such as dairy enzymes, which require specific approvals.
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Dyadic's focus on non-pharmaceutical products may divert resources from its biopharmaceutical pipeline, potentially impacting long-term growth in that segment.
Q & A Highlights
Q: Can you provide more details on the Gates Foundation and SEPI grants and their interest in the C1 platform? A: Mark Emalfarb, CEO, explained that Dyadic has applied for several additional grants, including those from the Gates Foundation and SEPI. The Gates Foundation's $3 million grant indicates significant interest, and they are impressed with the speed of Dyadic's work. SEPI is also just beginning to engage with Dyadic. These grants are crucial as they come from major nonprofit organizations focused on vaccines and global health, helping to advance Dyadic's platform for potential life-saving medicines.